The ledger of Pronghorn Rental Agency on March 31 of the current year includes the following selected accounts before adjusting entries have been prepared.

Debit

Credit

Prepaid Insurance $3,624

Supplies 2,558

Equipment 23,490

Accumulated Depreciation-Equipment $8,128

Notes Payable 21,690

Unearned Rent Revenue 4,110

Rent Revenue 56,400

Interest Expense-0-

Salaries and Wages Expense 13,360

An analysis of the accounts shows the following.

1. The equipment depreciates $257per month.

1. Insurance expires at the rate of $302per month.